
<p>July 21 (Reuters) – Here’s what you need to know about the coronavirus right now:</p>



<h2 class="wp-block-heading" id="h-olympic-celebration-of-hope-begins">Olympic ‘celebration of hope’ begins</h2>



<p>Japan’s women’s softball team got the Tokyo 2020 Olympics off to a winning start for the hosts on Wednesday, a boost for the pandemic-postponed Games that the World Health Organization sees as “a celebration of hope” even as COVID-19 cases surge.</p>



<p>The opening ceremony on Friday will be a scaled-down affair, a “sobering” performance, Marco Balich, longtime opening ceremonies executive producer, and now a senior advisor to the Tokyo ceremonies executive producer, told Reuters in an interview.</p>



<h2 class="wp-block-heading" id="h-south-korea-reports-record-daily-infections">South Korea reports record daily infections</h2>



<p>South Korea reported a daily record of 1,784 coronavirus cases for Tuesday, breaking a mark set last week, as the authorities struggled to get on top of a surge in outbreaks linked to the Delta variant.</p>



<p>Transmission rates have been kept relatively low across the country despite no lockdowns thanks in part to aggressive testing and tracing, but the fourth wave of infections is proving particularly hard to contain as the unvaccinated fall victim to the Delta strain. New distancing rules are expected to be announced by Sunday.</p>



<h2 class="wp-block-heading" id="h-under-lockdown-australia-sees-jump-in-cases">Under lockdown, Australia sees jump in cases</h2>



<p>Australia’s two largest states reported sharp increases in new COVID-19 cases on Wednesday, a blow to hopes that lockdown restrictions would be lifted with more than half the country’s population under stay-at-home orders.</p>



<p>A year and a half into the pandemic, some 13 million Australians are under hard lockdown, raising pressure on the federal government which has seen its polling at its lowest in a year due to a sluggish immunisation program. Just over 11% of the population is fully vaccinated.</p>



<h2 class="wp-block-heading" id="h-delta-variant-80-of-u-s-cases-life-expectancy-falls-by-1-5-years">Delta variant 80% of U.S. cases; life expectancy falls by 1.5 years</h2>



<p>The Delta variant of the coronavirus is the cause of more than 80% of new U.S. COVID-19 cases, but the authorized vaccines remain more than 90% effective in preventing hospitalizations and deaths, said top U.S. infectious disease expert Anthony Fauci during U.S. Senate hearing on Tuesday.</p>



<p>Life expectancy in the United States fell by a year and a half in 2020 to 77.3 years, the lowest level since 2003, primarily due to the deaths caused by the COVID-19 pandemic, the U.S. Centers for Disease Control and Prevention (CDC) said on Wednesday.</p>



<h2 class="wp-block-heading" id="h-indonesia-extends-covid-curbs-to-july-25">Indonesia extends COVID curbs to July 25</h2>



<p>Indonesia extended its pandemic-linked restrictions to July 25 as the number of coronavirus infections remained high, aiming for a gradual easing of curbs next week if infections drop, President Joko Widodo said on Tuesday.</p>



<p>COVID-19 cases in Indonesia are currently among the highest in the world due to the rapid spread of the Delta variant, despite the imposition this month of the strictest restrictions on the movement of people so far during the pandemic.</p>



<p>(Compiled by Karishma Singh; Editing by Kim Coghill)</p>



<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html</p>


Novel coronavirus sars-cov-2

What you need to know about the coronavirus right now


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="547" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/GettyImages-109438462-1-820x547.jpg" alt="" class="wp-image-401247" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/GettyImages-109438462-1-820x547.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/GettyImages-109438462-1-300x200.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/GettyImages-109438462-1-768x512.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/GettyImages-109438462-1-1536x1024.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/GettyImages-109438462-1.jpg 1920w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



<p>SINGAPORE, July 21 (Reuters) – Oil prices fell on Wednesday after an industry report showed an unexpected build-up in U.S. oil inventories last week, which heightened worries about a resurgence in COVID-19 infections potentially dampening fuel demand.</p>



<p><a href="https://www.cnbcafrica.com/quotes/@lcoc1/">Brent crude</a> futures fell 52 cents, or 0.8%, to $68.83 a barrel at 0354 GMT, giving up Tuesday’s 1.1% gain.</p>



<p>U.S. West Texas Intermediate (WTI) crude futures dropped 50 cents, or 0.7%, to $66.70 a barrel, after rising $1 on Tuesday.</p>



<p>The market “has come under a bit of downward pressure in early morning trading today after a bearish and rather surprising inventory report from the API,” ING Economics analysts said in a note, referring to weekly figures from the American Petroleum Institute.</p>



<p>U.S. crude stocks rose by 806,000 barrels for the week that ended July 16, according to two market sources, citing American Petroleum Institute figures.</p>



<p>By comparison, 10 analysts polled by Reuters had estimated, on average, that crude stocks fell by about 4.5 million barrels.</p>



<p>Investors are awaiting data from the U.S. Energy Information Administration to see whether it confirms there was an increase in crude inventories, which would end an eight-week streak of inventory drawdowns.</p>



<p>“The price moves today and potentially tomorrow will be driven by U.S. oil stocks data, but the biggest thematic will be the OPEC+ deal to add 400,000 barrels per day a month versus whether demand will hold up given what we’re seeing on the Delta variant,” Commonwealth Bank analyst Vivek Dhar said.</p>



<p><a href="https://www.cnbcafrica.com/2021/opec-oil-deal-sends-prices-lower-and-this-could-be-a-buying-opportunity/">A deal</a> by the Organization of the Petroleum Exporting Countries and allies, together known as OPEC+, to boost supply by 400,000 bpd each month from August through December sparked an oil price selloff on Monday, exacerbated by demand fears with cases of the Delta variant of the coronavirus picking up in major markets like the United States, Britain and Japan.</p>



<p>While fuel demand has improved during the peak summer months, a surge in Delta variant COVID-19 cases is taking a toll on the demand outlook.</p>



<p>“The Delta dread has a rather firm grip of the oil market sentiment, having put a big question-mark over the demand rebound narrative of the past several weeks,” said Vandana Hari, energy analyst at Vanda Insights.</p>



<p>“Crude may eke out some modest gains in the coming days, but it is hard to see prices jumping to the higher orbits any time soon,” said Hari. </p>



<p>(Reporting by Sonali Paul in Melbourne and Roslan Khasawneh in Singapore. Editing by Gerry Doyle and Richard Pullin)</p>



<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html</p>


106905973-1625223614118-gettyimages-1232575215-OIL_DEMAND

Oil retreats on surprise rise in U.S. stocks, weakening demand outlook


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="404" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252-820x404.jpg" alt="" class="wp-image-400971" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252-820x404.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252-300x148.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252-768x379.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/04/istock-172471634-941536-1611211252.jpg 1458w" sizes="(max-width: 820px) 100vw, 820px" /></figure>



<p>July 21 (Reuters) – <a href="/quotes/xau=x/">Gold </a>eased on Wednesday as the dollar emerged as the preferred safe-haven bet amid fears that the highly contagious Delta coronavirus variant may stall a global economic recovery, while a rebound in U.S. bond yields further pressured bullion prices.</p>



<p>Spot gold was down 0.2% to $1,806.56 per ounce, as of 0258 GMT. U.S. gold futures fell 0.2% to $1,808.10.</p>



<p>“Even though gold considered a safe-haven, in times where there are true concerns about growth outlook, policy going forward and there is a drive to safety, the U.S. dollar always wins out,” said IG Market analyst Kyle Rodda.</p>



<p>“We did see some buyers coming through below $1,800 per ounce, which was constructive. But at the moment, the dollar is viewed as a safe-haven on bets that the U.S. economy will outperform a patchy global economy.”</p>



<p>The dollar rose 0.1% to hover near a 3-1/2-month peak against its rivals, potentially trimming appetite for gold by making the metal more expensive for holders of other currencies.</p>



<p>Yields on 10-year Treasuries bounced off five-month lows, increasing the opportunity cost of holding non-interest bearing gold.</p>



<p>Asian shares rose after sharp declines in the previous two sessions on concerns over the impact of the fast-spreading Delta variant.</p>



<p>Investors now shift their focus to the European Central Bank meeting on Thursday where policymakers are expected to chart a new path to reflect a change in strategy and show the bank is serious about reviving inflation.</p>



<p>Elsewhere, silver fell 0.3% to $24.84 per ounce, after hitting a more than three-month low earlier in the session.</p>



<p>“Silver prices are under pressure on concern that the spread of the new coronavirus Delta variant infections will lead to additional pandemic restrictions that undercut economic activity and demand for industrial metals,” Avtar Sandu, a senior commodities manager at Phillip Futures, said in a note.</p>



<p>Palladium rose 0.1% to $2,636.32 and platinum fell 0.1% to $1,064.89. </p>



<p>(Reporting by Brijesh Patel in Bengaluru; Editing by Subhranshu Sahu)</p>



<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html</p>


Gold_bar_3

Gold slips as dollar steals safe-haven thunder, yields rebound


<p>July 21 (Reuters) – All iPhones released next year will be 5G-capable, including Apple’s first revamp of its budget handset in two years, Nikkei <a href="https://asia.nikkei.com/Business/Technology/Apple-to-go-all-in-on-5G-for-its-2022-iPhone-lineup">reported </a>on Wednesday, citing sources familiar with the matter.</p>



<p>The company will not introduce any new 4G models from 2022, the report said. (Reporting by Sneha Bhowmik in Bengaluru; Editing by Arun Koyyur)</p>



<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html</p>


image

Apple to release all 5G enabled iPhones for 2022 lineup


<p><em>CNBC Africa&#8217;s Fifi Peters caught up with Shannon Timothy, Head, Branch Network at African Bank to discuss how last weeks event have impacted the bank:</em></p>





<p><strong>Fifi Peters</strong> Shannon, thanks so much for your time. Can you quantify the damage suffered by African bank due to the recent riots.</p>



<p><strong>Shannan Timothy</strong> Fifi we&#8217;ve had damage to infrastructure, we&#8217;ve had 32 of our branches that have actually been damaged, vandalized during the course of the last week. </p>



<p><strong>Fifi Peters</strong> And I imagine that you&#8217;re going to tell me that you&#8217;re sufficiently covered from an insurance point of view. But can you discuss other costs here related to the repair and rebuild program that you&#8217;ll obviously have to endure? </p>



<p><strong>Shannan Timothy</strong> So we&#8217;re still busy in the process of assessing our actual infrastructure Fifi, I did mention, you know, the damage that we find in terms of our branch networks, and related infrastructure, also the damage that&#8217;s caused by, you know, disruption to trade, in the manner that it took, you know, in our case, we fortunate that African bank is a multi-channel bank. So, we are also, you know, able to continue servicing our customers through the remaining portions of our branch network, and also by our digital and internet channels, and our telephony channels. </p>



<p><strong>Fifi Peters</strong> What&#8217;s been interesting this week, so far, Shannon is a number of companies that were affected by the riots have been issuing statements on the JSE, talking about the reopening of a lot of those stores, and the fact that business is getting back to two usual operations if one can put it that way. So how many of your stores right now remain shuts or how many have resumed normal trading? </p>



<p><strong>Shannan Timothy</strong> So Fifi, we&#8217;ve got just over 400 stores in South Africa. And it&#8217;s just those that were impacted. So 32 of our stores that were impacted in KwaZulu Natal and encouraging that remained closed that this time the rest of our stores have returned to trading normally. </p>



<p><strong>Fifi Peters</strong> and what has that meant for some of the workers who work in those branches that right now remain closed? </p>



<p><strong>Shannan Timothy</strong>, I think that, you know, at the moment, like I say, feed the branches that remain closed, you know, we proceed with an exercise looking at how to go about potentially reinstating those branches. I think that the one thing that we&#8217;ve been clear about, you know, from our CEO, and the rest of the executives is that there will be no job losses. So although there&#8217;s been an impact of on those colleagues, you know, we will try and redeploy them or retool them for other purposes, but there will be no loss of job. And like I say, we are currently busy looking at our infrastructure and looking at how best to reinstate those outlets that have been damaged. </p>



<p><strong>Fifi Peters </strong>Shannon, perhaps you can also speak broadly, from a strategy point of view as to what this has done to perhaps some of the plans that you had in place for 2021, maybe via, you know, reopening of new branches, and maybe via the potential creation of new jobs as a result that as opposed to the jobs that you can, that you say that you will be retaining, what has this done? </p>



<p><strong>Shannan Timothy</strong> So I think broadly, Fifi, I think one of the key things for me is that, you know, we have a crisis management plan. And we were able to invoke their crisis management plan, and we were able to sustain ourselves through this period. As as far as the opening of new outlets go, African bank will not be deterred. You know, at the heart of the bank is putting banking in the hands of the community, and advancing lives. And we continue with we will continue with the rollout of new outlets. I think physical branch banking still has its place in the banking industry. There are a number of communities that have had very limited or no access to financial services in the past, and we&#8217;d like to provide them with that. And in addition to that, you know, I, we adopt a multi channel approach. So it&#8217;s a combination of approaches to banking and contact with the customer. crunches telephone The digital internet and and apps, banking apps as well. So I think, in a nutshell, you know, we continue, yes, there has been some disruption critically for us. He said, all our stuff was safe, and that we were able to continue to serve communities. </p>



<p><strong>Fifi Peters</strong> That is critical, because we have also seen a number of companies issue statements, to say the opposite to say that, unfortunately, there were some fatalities within their stores as a result of the riots. So that&#8217;s good to know. But Shannon, as we talk about rebuild and repair, and now from this latest setback that some are calling for South Africa, it is great to hear that African bank does, you know, remain committed to its expansion plans and opening out of new outlets, but at a national level, and in terms of the expectation from national government and leadership. What is African bank calling on them to do? </p>



<p><strong>Shannan Timothy</strong> I think, in response to that question, you know, I think my response would be centered more around what we as a bank, are doing for the communities. So, you know, I think that I can comment from an institutional perspective. And from an institutional perspective, you know, we continue to want to serve communities, and take financial services to these communities, especially to the communities that are underserved. I think that would be my response. </p>



<p><strong>Fifi Peters </strong> I hear you shying away from the politics, so perhaps maybe different differently puts if Mr. Ramaphosa was asking you right now, as Shannon, you know, what would make your job easier? As a manager of banking in South Africa? What would make your job easier? In terms of including a whole lot more people in the financial system and banking than bank and driving financial inclusion? What would you say to him? </p>



<p><strong>Shannon Timothy</strong> I think the element of inclusivity that you mentioned just now is a critical one. I think the more people that are included, you know, in the economy, the more people that are that are able to participate in growing South Africa&#8217;s prosperity from an economic perspective. I think the better off we will be. I firmly believe that South Africa is a great country. I firmly believe that South Africa&#8217;s you know, full of good people. And I think that, you know, economic inclusion and the development of infrastructure are critical components that I believe very important.</p>


African Bank Investments Ltd. Retail Unit Following Rescue By Central Bank

“There will be no job losses” – African Bank


<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/106913490-1626785481170-106913490-16267854232021-07-20t122038z_534994130_rc28oo9fq1wl_rtrmadp_0_space-exploration-blueorigin.jpg?v=1626785509&amp;w=929&amp;h=523" alt="Billionaire Jeff Bezos, founder of ecommerce company Amazon.com Inc, his brother Mark Bezos, a private equity executive, pioneering female aviator Wally Funk and recent Dutch high school graduate Oliver Daemen pose in an undated photograph, ahead of their"/><figcaption>Billionaire Jeff Bezos, founder of ecommerce company Amazon.com Inc, his brother Mark Bezos, a private equity executive, pioneering female aviator Wally Funk and recent Dutch high school graduate Oliver Daemen pose in an undated photograph, ahead of their scheduled flight aboard Blue Origin’s New Shepard rocket near Van Horn, Texas, U.S.Blue Origin | Reuters</figcaption></figure>



<p>VAN HORN, Texas —&nbsp;<a href="https://www.cnbc.com/jeff-bezos/">Jeff Bezos</a>&nbsp;is the world’s most wealthy person, and now the first to hold that title while not on the Earth.</p>



<p>Blue Origin launched him into spaceflight history on Tuesday, with Bezos riding his company’s&nbsp;<a href="https://www.cnbc.com/2021/07/19/blue-origin-launching-jeff-bezos-to-space-tuesday-what-to-know.html">first crewed New Shepard rocket</a>, alongside his brother and the oldest and youngest people to ever have flown in space.</p>



<p>After touchdown, Bezos reflected on realizing his long-awaited dream of flying in space.</p>



<p>“Best day ever!” he said.</p>



<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/106913526-1626788205180-AP21201483117652.jpg?v=1626788245&amp;w=929&amp;h=523" alt="This photo provided by Blue Origin, Blue Origin's New Shepard rocket lifts off Tuesday, July 20, 2021. The rocket is carrying passengers Jeff Bezos, founder of Amazon and space tourism company Blue Origin, his brother Mark Bezos, Oliver Daemen and Wally F"/></figure>



<p>This photo provided by Blue Origin, Blue Origin’s New Shepard rocket lifts off Tuesday, July 20, 2021. The rocket is carrying passengers Jeff Bezos, founder of Amazon and space tourism company Blue Origin, his brother Mark Bezos, Oliver Daemen and Wally Funk.Blue Origin | AP</p>



<p>The capsule carrying the Blue Origin crew accelerated to more than three times the speed of sound before it reached 80 kilometers (or about 262,000 feet), the boundary the U.S. uses to mark the edge of space. The crew floated in microgravity for a couple minutes, before the capsule returned and landed under a set of parachutes.</p>



<p>The launch marked Blue Origin’s entrance into the market of private spaceflight, joining&nbsp;<a href="https://www.cnbc.com/richard-branson/">Richard Branson’s</a>&nbsp;<a href="https://www.cnbc.com/quotes/SPCE" target="_blank" rel="noreferrer noopener">Virgin Galactic</a>&nbsp;— its direct competitor in the sector of suborbital tourism — and&nbsp;<a href="https://www.cnbc.com/elon-musk/">Elon Musk’s</a>&nbsp;SpaceX.</p>



<h2 class="wp-block-heading" id="h-making-history">Making history</h2>



<p>In addition to his singular net worth, Bezos, 57, is also the only space founder to ride the first crewed flight of his company. While SpaceX and Virgin Galactic have launched astronauts before, Bezos is the first to put himself on the inaugural crew flight.</p>



<p>Floating next to him: Wally Funk, 82, and Oliver Daemen, 18 — respectively the oldest and youngest humans to ever fly in space — and Bezos’ brother, Mark, 53.</p>



<p>Bezos invited his brother and Funk, a female aerospace pioneer, to join the flight. Daemen was a late addition. His seat was originally part of a public auction, but the auction’s winner, an anonymous person who bid $28 million to fly with Bezos, was unable to make the July 20 launch date. Daemen’s father, Joes, CEO of a private equity firm in the Netherlands, was also a bidder, with Daemen scheduled to fly on Blue Origin’s second crew launch as a paying passenger. When the mystery bidder backed out, the company moved Daemen up to the first launch.</p>



<p>Tuesday’s launch also came on another historic milestone — the 52nd anniversary of the Apollo 11 moon landing.</p>



<h2 class="wp-block-heading">Bezos’ space vision</h2>



<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/106508164-1588016562809iss040e092688_large.jpg?v=1588016610&amp;w=929&amp;h=523" alt=""/><figcaption>NASA</figcaption></figure>



<p>New Shepard’s launch represents a milestone in its progress toward Bezos’ vision. He founded Blue Origin with the goal to create “a future where millions of people are living and working in space to benefit Earth.”</p>



<p>The New Shepard rocket and the capsule that rides atop it are reusable, capable of launching, landing, and launching again multiple times. The rocket system is in many ways a pathfinder for Blue Origin’s other, larger scale projects — such as its orbital New Glenn rocket.</p>



<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/106845699-1614269360088-blueorigin_newglenn_launch_web.jpg?v=1614269426&amp;w=929&amp;h=523" alt="An artist's illustration of a New Glenn rocket standing on the launchpad in Florida."/><figcaption>An artist’s illustration of a New Glenn rocket standing on the launchpad in Florida.Blue Origin</figcaption></figure>



<p>Like New Shepard, the New Glenn rocket booster is designed to be reusable, with the company expecting each one to be capable of launching and landing 25 times. New Glenn, with an inaugural launch date target of late 2022, stands about 320 feet tall and is designed to lift nearly 50 tons of payload to low Earth orbit. The rockets are named after Mercury astronauts Alan Shepard and John Glenn, respectively the first American in space and the first American to orbit Earth. In 1998, then-77-year-old Sen. Glenn became the oldest person in space.</p>



<p>Blue Origin has also developed multiple engines to power both its rockets, including the BE-3, BE-4, and BE-7 engines.</p>



<figure class="wp-block-image"><img decoding="async" src="https://image.cnbcfm.com/api/v1/image/106147179-1569381242599be4enginetestthumbnail.gif?v=1569381306&amp;w=929&amp;h=523" alt="Blue Origin tests one of the BE-4 rocket engines the company is developing to launch its New Glenn rocket."/><figcaption>Blue Origin tests one of the BE-4 rocket engines the company is developing to launch its New Glenn rocket.Blue Origin | gif by @thesheetztweetz</figcaption></figure>



<p></p>



<p>Blue Origin is also working on a crewed lander called Blue Moon, which the company hopes to one day deliver astronauts and cargo to the lunar surface.</p>



<h2 class="wp-block-heading">Space billionaires</h2>



<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="https://image.cnbcfm.com/api/v1/image/106912890-16267065082021-07-19t032326z_1476711816_rc26no9eupiw_rtrmadp_0_space-exploration-blueorigin.jpeg?v=1626706553&amp;w=929&amp;h=523" alt="Mural displaying Jeff Bezo and his brother Mark Bezo, is seen in Van Horn, Texas, two days before the scheduled launch of Blue Origin's inaugural flight to the edge of space by billionaire American businessman Jeff Bezos and his three crewmates, in the ne" width="840" height="472"/><figcaption>Mural displaying Jeff Bezo and his brother Mark Bezo, is seen in Van Horn, Texas, two days before the scheduled launch of Blue Origin’s inaugural flight to the edge of space by billionaire American businessman Jeff Bezos and his three crewmates, in the nearby town of Van Horn, Texas, U.S. July 18, 2021.Thom Baur | Reuters</figcaption></figure>



<p></p>



<p>The company’s only direct competition in the market of launching space tourists to the edge of space is Branson’s Virgin Galactic, a sector known as suborbital tourism. SpaceX is preparing to launch its first private mission in September, called Inspiration4, but Musk’s company sends its capsules further into space on multiday flights, in what is known as orbital tourism.</p>



<p>Blue Origin and Virgin Galactic have been developing rocket-powered spacecraft, but that is where the similarities end. While Blue Origin’s New Shepard rocket launches vertically Virgin Galactic’s SpaceShipTwo system is released in the air and returns to Earth in a glide for a runway landing, like an aircraft.</p>



<p>And while Blue Origin launches autonomously, Virgin Galactic system is flown by two pilots. Branson’s company has flown four test spaceflights to date but does not expect to begin flying paying customers until 2022.&nbsp;</p>



<p>Blue Origin’s auction may have netted $28 million, but a seat on a suborbital spacecraft is typically much less expensive. Virgin Galactic has historically sold reservations between $200,000 and $250,000 per ticket, and more recently charged the Italian Air Force about $500,000 per ticket for a training spaceflight.</p>



<p>The tourism market is a nascent slice of&nbsp;<a href="https://www.cnbc.com/2020/07/30/space-economy-worth-over-420-billion-weathering-covid-crisis-report.html">the more than $420 billion space economy</a>. Yet its high profile — given the much more thrilling human element — means it has a powerful and widespread influence over the space industry, with investors often pointing to astronaut flights as driving excitement about the broader implications of the extraterrestrial marketplace.</p>


106913519-1626788028750-gettyimages-1329690430-ay4i6883_2021072071436209

Jeff Bezos reaches space on Blue Origin’s first crewed launch

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<p>South Africa is dealing with an unemployment rate of 33per cent, with the youth accounting for about 60per cent of unemployed people. Last week, the World Bank released a report on South Africa, with a focus on jobs &#038; how we can build back better in this regard. And one of the key points that the bank made is that young entrepreneurs are one of South Africa’s best hopes of solving the jobs crisis. Joining CNBC Africa to discuss what we can do to develop this space is Matsi Modise, Vice Chairperson at SiMODiSA; Sumarie Roodt, Chairperson at Silicon Cape &#038; Vusi Thembekwayo, CEO at MyGrowthFund Venture Partners.</p>


How to make entrepreneurship a viable option in SA’s recovery

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<p>The Banking Association of South Africa has reported that 1400 ATM’s and 300 branches were vandalized in last week’s violence.</p>


SA banks hit hard by violent riots


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="656" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Jacob_Zuma_2009_World_Economic_Forum_on_Africa-1_cropped-820x656.jpg" alt="" class="wp-image-408759" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Jacob_Zuma_2009_World_Economic_Forum_on_Africa-1_cropped-820x656.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Jacob_Zuma_2009_World_Economic_Forum_on_Africa-1_cropped-300x240.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Jacob_Zuma_2009_World_Economic_Forum_on_Africa-1_cropped-100x80.jpg 100w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Jacob_Zuma_2009_World_Economic_Forum_on_Africa-1_cropped-768x614.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/07/Jacob_Zuma_2009_World_Economic_Forum_on_Africa-1_cropped.jpg 1481w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>CAPE TOWN/SOUTH AFRICA, 10JUN2009 -Jacob Zuma, President of South Africa and Ngozi Okonjo-Iweala, Managing Director, World Bank, Washington DC; Co-Chair of the World Economic Forum, at the Opening Plenary on Africa and the New Global Economy at the World Economic Forum on Africa 2009 in Cape Town, South Africa, June 10, 2009

Copyright World Economic Forum www.weforum.org / Matthew Jordaan mattjordaanphoto@gmail.com</figcaption></figure>



<p>JOHANNESBURG, July 20 (Reuters) &#8211; A South African court granted former President Jacob Zuma&#8217;s request for a delay in his arms deal corruption trial on Tuesday, and adjourned proceedings for three weeks.</p>



<p>Zuma is accused of receiving kickbacks over a $2 billion arms deal from the 1990s. He pleaded not guilty in May to charges including corruption, fraud and money laundering.</p>



<p>He has evaded prosecution for more than a decade, and portrayed himself as the victim of a politically motivated witch-hunt.</p>



<p>Efforts to hold him to account are seen as a test of the country&#8217;s ability to hold powerful politicians to account.</p>



<p>&#8220;The trial is adjourned to 10-13 August 2021,&#8221; Pietermaritzburg High Court Judge Piet Koen said. He did not give the reasons why he allowed the delay.</p>



<p>Zuma has started a 15-month sentence for contempt of court.</p>



<p>He appeared before the Pietermaritzburg court virtually but stayed silent while his legal team argued that a postponement should be granted so that he could appear in person.</p>



<p>Zuma&#8217;s jailing this month triggered some of the worst unrest of the post-apartheid era. There were fears his latest court appearance could lead to a flare-up of violent protests from his support base. That has not materialised so far.</p>



<p>(Reporting by Alexander Winning and Wendell Roelf; Editing by Olivia Kumwenda-Mtambo and Timothy Heritage)</p>


World Economic Forum on Africa 2009

Court grants delay in former President Jacob Zuma’s arms deal corruption trial

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<p>The World Bank’s recent economic assessment has shown that Kenya is at a stage in its demographic transition with the largest age cohort about to enter the working age. Yet, Covid-19 has complicated the job market in Kenya. World Bank Senior Economist, Ramya Sundaram spoke to CNBC Africa for more.</p>


Kenya’s growing labour force and the jobs challenge


<p>VAN HORN, Texas, July 20 (Reuters) – Jeff Bezos, the world’s richest person, on Tuesday is set to blast off aboard his company Blue Origin’s New Shepard launch vehicle for a suborbital flight as part of a history-making crew – another milestone in ushering in a new era of private space travel.</p>



<p>The American billionaire is due to fly from a desert site in West Texas on an 11-minute voyage to the edge of space nine days after British rival Richard Branson was aboard his competing space tourism company Virgin Galactic’s successful inaugural suborbital flight from New Mexico.</p>



<p>Branson got to space first, but Bezos is due to fly higher – 62 miles (100 km) for Blue Origin compared to 53 miles (86 km) for Virgin Galactic – in what experts call the world’s first unpiloted space flight with an all-civilian crew.</p>



<p>Bezos, founder of ecommerce juggernaut Amazon.com Inc , and his brother and private equity executive Mark Bezos will be joined in the flight by two others. Pioneering female aviator Wally Funk, 82, and recent high school graduate Oliver Daemen are set to become the oldest and youngest people to reach space.</p>



<figure class="wp-block-image size-large"><a href="https://graphics.reuters.com/SPACE-EXPLORATION/BLUEORIGIN/jbyprzzympe/blue-origin.jpg" target="_blank" rel="noopener"><img decoding="async" src="https://graphics.reuters.com/SPACE-EXPLORATION/BLUEORIGIN/jbyprzzympe/blue-origin.jpg" alt=""/></a><figcaption>Click to enlarge graphic</figcaption></figure>



<p>“I am excited, but not anxious. We’ll see how I feel when I’m strapped into my seat,” Bezos said in an interview with Fox Business Network on Monday. “… We’re ready. The vehicle’s ready. This team is amazing. I feel very good about it. And I think my fellow crewmates feel good about it, too.”</p>



<p>Funk was one of the so-called Mercury 13 group of women who trained to become NASA astronauts in the early 1960s but was passed over because of her gender. Daemen, Blue Origin’s first paying customer, is set to attend the University of Utrecht in the Netherlands to study physics and innovation management in September. His father heads investment management firm Somerset Capital Partners.</p>



<h3 class="wp-block-heading" id="h-read-more-mauritius-arrests-captain-of-japanese-oil-spill-ship">Read more: <a href="https://www.cnbcafrica.com/2020/mauritius-arrests-captain-of-japanese-oil-spill-ship/" rel="noreferrer noopener" target="_blank">Mauritius arrests captain of Japanese oil spill ship</a></h3>



<p></p>



<p>Barring technical or weather-related delays, New Shepard is due to blast off around 8 a.m. CDT (1300 GMT) from Blue Origin’s Launch Site One facility some 20 miles (32 km) outside the rural Texas town of Van Horn.</p>



<h2 class="wp-block-heading" id="h-minutes-of-weightlessness">MINUTES OF WEIGHTLESSNESS</h2>



<p>New Shepard is a 60-foot-tall (18.3-meters-tall) and fully autonomous rocket-and-capsule combo that cannot be piloted from inside the spacecraft. It is completely computer-flown and will have none of Blue Origin’s staff astronauts https://www.reuters.com/business/aerospace-defense/bezos-blue-origin-make-history-with-unpiloted-civilian-space-flight-2021-07-14 or trained personnel onboard.</p>



<p>In contrast, Virgin Galactic used a space plane with a pair of pilots onboard.</p>



<p>New Shepard is set to hurtle at speeds upwards of 2,200 miles (3,540 km) per hour to an altitude of about 62 miles (100 km), the so-called Kármán line set by an international aeronautics body as defining the boundary between Earth’s atmosphere and space.</p>



<p>During the flight, the crew will unbuckle for a few minutes of weightlessness and gaze back at the Earth’s curvature through what Blue Origin calls the largest windows ever used in space travel. Then, the capsule falls back to Earth under parachutes, using a last-minute retro-thrust system that expels a “pillow of air” for a soft landing at 1 mph (1.6 km/h) in the Texas desert.</p>



<p>The reusable booster is due to return to the launch pad using drag brakes and ring and wedge fins for stabilization.</p>



<p>Tuesday’s launch marks another landmark in the “billionaire’s race” to establish a space tourism sector that Swiss investment bank UBS estimates will reach $3 billion annually in a decade. Another billionaire tech mogul, Elon Musk, plans to send an all-civilian crew on an even more ambitious flight in September: a several-day orbital mission on his Crew Dragon capsule.</p>



<p>Blue Origin has not offered details on its longer-term pricing strategy or how quickly it will ramp up the frequency of its launches. Chief Executive Bob Smith has said the next flight is likely in September or October. Smith said the “willingness to pay continues to be quite high” for people interested in future flights.</p>



<p>The company appears to have a reservoir of future customers. More than 6,000 people from at least 143 countries entered an auction to become the first paying customer, though the auction winner who made a $28 million bid ultimately dropped out of Tuesday’s flight.</p>



<p>Bezos, who founded Blue Origin in 2000, has a net worth of $206 billion according to the Bloomberg Billionaires Index https://www.bloomberg.com/billionaires. He stepped down this month as Amazon CEO but remains its executive chairman.</p>



<p>(Reporting by Eric M. Johnson in Van Horn, Texas; Editing by Will Dunham)</p>



<p>(c) Copyright Thomson Reuters 2021. Click For Restrictions – https://agency.reuters.com/en/copyright.html</p>



<h3 class="wp-block-heading" id="h-explainer-why-are-pirates-attacking-ships-in-the-gulf-of-guinea"><a href="https://www.cnbcafrica.com/2021/explainer-why-are-pirates-attacking-ships-in-the-gulf-of-guinea/" rel="noreferrer noopener" target="_blank">EXPLAINER-Why are pirates attacking ships in the Gulf of Guinea?</a></h3>


46172109345_3e3e67096d_o

Jeff Bezos, worlds richest man, set for inaugural space voyage


<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="820" height="615" src="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231063275-820x615.jpeg" alt="" class="wp-image-397323" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231063275-820x615.jpeg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231063275-300x225.jpeg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231063275-768x576.jpeg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231063275-1536x1152.jpeg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2021/02/GettyImages-1231063275-scaled.jpeg 2048w" sizes="(max-width: 820px) 100vw, 820px" /><figcaption>UKRAINE &#8211; 2021/02/09: In this photo illustration, BTCUSD / Bitcoin USD price information seen displayed on a smartphone with a Bitcoin logo in the background. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)</figcaption></figure>



<p><a href="https://www.cnbcafrica.com/quotes/btc=x/">Bitcoin</a>&nbsp;fell below $30,000 for the first time since Jun. 22 on Monday dragging other digital coins lower.</p>



<p>About $90 billion was wiped off the entire cryptocurrency market in 24 hours as of 11:34 p.m. ET, according to CoinMarketCap data.</p>



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<h3 class="wp-block-heading" id="h-watch-binance-ceo-on-covid-19-and-trading-crypto-in-africa">Watch: Binance CEO on COVID-19 and trading crypto in Africa</h3>


</div></div>



<p>Bitcoin was down nearly 6% while ether fell 8% and XRP tanked almost 10%, according to CoinDesk data.</p>



<p>The plunge in bitcoin came after a big sell-off in global stock markets. On Monday, the&nbsp;<a href="https://www.cnbc.com/quotes/.DJI">Dow Jones Industrial Average</a>&nbsp;had its&nbsp;<a href="https://www.cnbc.com/2021/07/18/stock-market-futures-open-to-close-news.html">worst day since last October</a>.</p>



<p>“There’s been a broad sell-off in global markets, risk assets are down across the board,” Annabelle Huang, partner at cryptocurrency financial services firm Amber Group, said.</p>



<p>There are “concerns of the quality and strength of economic recovery” and “broader risk assets turned weaker including high yields,” Huang said. “Coupled with recent BTC (bitcoin) weakness, this just sent crypto market down further.”</p>



<p>Since bitcoin’s all-time high of nearly $65,000 in mid-April, its price has plunged over 50%.</p>



<p><a href="https://www.cnbcafrica.com/2021/bitcoin-drops-as-china-intensifies-crypto-mining-crackdown/">A renewed crackdown in China on cryptocurrency trading</a> and mining has weighed on the bitcoin price.</p>



<div class="wp-block-group"><div class="wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow">
<h3 class="wp-block-heading" id="block-779d632e-6017-468a-bff0-922f4323bc7a">Watch: Crypto in Africa &#8211; Where are the oppurtunities</h3>


</div></div>



<p>Major regions responsible for&nbsp;<a href="https://www.cnbc.com/2021/06/15/chinas-bitcoin-miner-exodus-.html">bitcoin mining in China have forced operations to shut down</a>. Bitcoin mining is an energy-intensive process that facilitates bitcoin transactions and creates new coins.</p>



<p><a href="https://www.cnbc.com/2021/06/21/china-central-bank-urges-alipay-banks-to-crack-down-on-crypto.html">China’s central bank has also spoken to finance and fintech companies</a>&nbsp;reminding them not to offer crytpo-related services to customers.</p>



<p><a href="https://www.cnbc.com/2017/09/11/bitcoin-price-falls-on-reports-that-china-is-closing-local-exchanges.html">China banned local cryptocurrency exchanges in 2017</a>&nbsp;forcing them to move offshore. That&nbsp;<a href="https://www.cnbc.com/2021/05/26/chinese-bitcoin-traders-wield-enormous-influence-despite-crackdown.html">did not stop Chinese traders buying and selling digital coins</a>. But the tough actions this year from Chinese regulators has looked to further tighten restrictions on trading and mining.</p>


106870692-1618903216209-gettyimages-1064216696-775261257JM00004_Bitcoin_Va

$90 billion wiped off crypto market as bitcoin drops below $30,000 for first time in nearly a month

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<p>The Covid-19 pandemic has seen an increase in capital flight from the continent with many investors opting for what have been termed as safer options. But could these conditions present markets on the continent with a new crop of investors? Moneda Invest CEO, Ejike Egbuagu  joins CNBC Africa for more.</p>


How can African stocks attract a new crop of investors?

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<p>Nigeria is planning to auction 5G spectrum by the fourth quarter of this year after undertaking trials in selected locations in the country. Olusola Teniola, President of Africa Digital Economy Forum joins CNBC Africa  to make sense of this and how this will impact Nigeria’s telecommunication space.</p>


Nigeria plans to start auctioning spectrum for next generation 5G network this year

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<p>Evans Ufeli, Constitutional Lawyer and Rights Advocate  joins CNBC Africa for more.</p>


Nigeria’s Electoral Amendment Bill: Matters arising

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<p>As Nigeria&#8217;s searches for ways to improve non-oil revenues, a director from the Economic Community of West Africa States has urged Nigeria to explore the option of raising Value Added Taxes on luxury items. Nnamdi Nwizu, Co-Managing Partner at Comercio Partners joins CNBC Africa for more.</p>


ECOWAS urges Nigeria to explore raising VAT on luxury goods

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<p>As South Africans begin to pick up the pieces after last week’s unrest, an organisation called Rebuild SA has been formed to do exactly that. RebuildSA  is a community of 57,000 volunteers who have come together to help address the challenges caused by last week’s riots. RebuildSA Co-Founder, Mbali Ndhlovu joins  CNBC Africa for more.</p>


Newsletter

What you need to know about the coronavirus right now

Oil retreats on surprise rise in U.S. stocks, weakening demand outlook

Gold slips as dollar steals safe-haven thunder, yields rebound

Apple to release all 5G enabled iPhones for 2022 lineup

“There will be no job losses” – African Bank

Jeff Bezos reaches space on Blue Origin’s first crewed launch

How to make entrepreneurship a viable option in SA’s recovery

SA banks hit hard by violent riots

Court grants delay in former President Jacob Zuma’s arms deal corruption trial

Kenya’s growing labour force and the jobs challenge

Jeff Bezos, worlds richest man, set for inaugural space voyage

$90 billion wiped off crypto market as bitcoin drops below $30,000 for first time in nearly a month

How can African stocks attract a new crop of investors?

Nigeria plans to start auctioning spectrum for next generation 5G network this year

Nigeria’s Electoral Amendment Bill: Matters arising

ECOWAS urges Nigeria to explore raising VAT on luxury goods

How this community of volunteers is helping SA rebuild from devastating riots

News Tips

Advertise With Us

Newsletter

What you need to know about the coronavirus right now

Oil retreats on surprise rise in U.S. stocks, weakening demand outlook

Gold slips as dollar steals safe-haven thunder, yields rebound

Apple to release all 5G enabled iPhones for 2022 lineup

“There will be no job losses” – African Bank

Jeff Bezos reaches space on Blue Origin’s first crewed launch

How to make entrepreneurship a viable option in SA’s recovery

SA banks hit hard by violent riots

Court grants delay in former President Jacob Zuma’s arms deal corruption trial

Kenya’s growing labour force and the jobs challenge

Jeff Bezos, worlds richest man, set for inaugural space voyage

$90 billion wiped off crypto market as bitcoin drops below $30,000 for first time in nearly a month

How can African stocks attract a new crop of investors?

Nigeria plans to start auctioning spectrum for next generation 5G network this year

Nigeria’s Electoral Amendment Bill: Matters arising

ECOWAS urges Nigeria to explore raising VAT on luxury goods

How this community of volunteers is helping SA rebuild from devastating riots

News Tips

Advertise With Us

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